The incident involving the illegal transfer of sensitive data occurred in 2018. The class action lawsuit filed over the incident includes a $725 million payment to the victims, which is the largest amount paid by any company for class action settlements. Settlement of a claim by payment of compensation requires the approval of a federal judge.
“We are seeking an agreement because it is in the best interest of our community and shareholders,” Meta* Inc said in a statement cited by Bloomberg.
This isn’t the first time Meta* has been forced to pay the price for the misuse of sensitive user data: Last month, the company paid $90 million in a case of illegal tracking of user activity.
*Meta is recognized as an extremist organization in Russia and banned
